Don’t get Randal Charlton wrong. The executive director at the TechTown business incubator in Detroit is thankful for a recent announcement of $5 million coming his way to help graduates of his FastTrac business training program launch their companies. But, he says, look at it this way: The money, granted by the New Economy Initiative, a Detroit-area philanthropic partnership, is not being thrown at comfortable entrepreneurs. This is, essentially, aid to the unemployed. And, as such, $5 million barely scratches the surface.

Many of the entrepreneurs to be helped by the First Step Fund, the entity created by NEI’s $5 million investment, are not launching startups because it seems like a promising thing to do. They have nowhere else to go, Charlton says. Their former jobs in the auto industry are gone, never to return. Their choices are to leave the state or try to create their own jobs in Michigan.

Jack Stack gives back to entrepreneurship in a variety of ways, but one of his main contributions has been through delivering a consistent message: employees at all levels of a company should think and act like they own it.

For this start-up phone company, global expansion was always the founder's goal. Human resources, timing and focus assured its long-distance success. Owning its own networks also enabled it to enter foreign markets without making deals with monopolies.

How do you survive personally when your business goes bust? In an article that is both realistic and compassionate, the author lays out a financial plan for the seven lean years. Stash away cash during the fat years, downsize quickly once the handwriting is on the wall, and consider moving to a lower-cost geographic area are among his suggestions.

How do you deal with things when your business is on the verge of going bust? This author lays out a financial plan for working through lean years to sustain a business. Key tips: stash away cash during good times, downsize quickly if need be, and consider relocating to a lower-cost area of the country.

A network of U.S. cities facilitating a weekly entrepreneur education program. Go to 1 Million Cups >

Whether you are starting or growing a company, FastTrac will help you live your dream at each stage.Go to FastTrac >

Email Newsletters

Want to be up-to-date with the latest news and updates from Entrepreneurship.org? To subscribe, just give us your email address below; you'll choose which e-newsletters you'd like to receive on the next screen.

Email Newsletter Sign-up Form

Enter your Email Address:Submit

Socialize With Us

Choose your favorite social media channels to keep up with the latest activity on Entrepreneurship.org.